INTERNATIONAL LISP CONFERENCE LIMITED Company Number 5686738
Accounts for the period ended 2007-06-30
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The figures below summarise the trading activity of International Lisp
Conference Limited since its incorporation in 2006-01. The company's
first trading period for tax purposes started on 2006-03-14 and ended
on 2007-06-30.
An executive summary of the accounts is that the conference made a
profit after tax of somewhat over GBP 8,000.
ILC Ltd is a UK company "limited by guarantee". There are no shares,
no dividends can be paid out, and the company is not allowed to pay
anything to its director(s) other than to reimburse expenses.
The company was formed as a vehicle for managing the lisp conference
held in Cambridge UK in April 2007. It is intended, now that all
payments associated with the conference have been settled, that the
company will shortly cease trading and be dissolved.
The company's Articles state:
If upon the winding up or dissolution of the Company there
remains, after the satisfaction of all its debts and liabilities,
any property whatsoever, the same shall not be paid or distributed
among the Members of the Company, but shall be transferred either
to some other institution (whether or not a member of the Company
and whether or not in the United Kingdom) having objects similar
to the objects of the Company, or to some institution (whether or
not a member of the Company) the objects of which are the
promotion of charity or anything incidental or conducive thereto,
such institution or institutions to be determined by the Members
of the Company at or before the time of dissolution.
The director(s) believe that the Association of Lisp Users (ALU) has
objects remarkably similar to those of ILC Ltd and will recommend to
the company's membership that all remaining assets, after payment of
UK Corporation Tax, be transferred to the ALU.
The abbreviated balance sheet in note 9 below will be sent to the UK
tax authorities.
All figures are in GBP.
International Lisp Conference Limited Profit and Loss Account to
2007-06-30
RECEIPTS See note
Conference Registrations 56860.80 1
ALU pays members' discounts 3242.80 2
ALU pays expenses met by ILC 455.34 2
Sales 1135.85 4
Interest 235.22
Paypal adjustments (sigh) 0.48 5
TOTAL 61930.49
EXPENSES
Venues 41721.50
ALU memberships collected 1973.00 2
Speakers 2024.39 3
Cost of sales / freebies 3566.27 4
Tours 1142.40
Miscellany 697.66 6
Insurance 498.75
Administration 202.54 7
Bank charges 34.12
TOTAL 51860.63
Net profit before tax 10069.86
Less: Corporation tax 1932.61 8
Profit after tax 8137.25 9
--------- NOTES ---------
1. Conference Registrations
Most delegates registered via Paypal which charged about 3% for the
privilege. Other methods of registration (cheque, international bank
transfer, cash) cost us less but were in general much more
time-consuming to process.
Paypal
Gross 45601.30
Less fees -1364.80
Net 44236.50
Other
Gross 12692.64
Less fees -68.34
Net 12624.30
Total registrations 56860.80
2. ALU loan account
The ALU loaned 7922.00 to ILC Ltd in March 2006.
ILC collected memberships on the ALU's behalf and offered discounts to
ALU members. The memberships collected were added to what ILC owed to
the ALU, and the discounts were subtracted from what was owed.
For convenience's sake, the ALU paid certain speakers' expenses on
behalf of ILC, and ILC paid certain other expenses on behalf of the
ALU.
Taking all these memberships, discounts and expenses into account, the
balance of the loan was repaid in May 2007.
Credits Debits Balance
Borrowed from ALU 7922.00 7922.00
ALU memberships received by ILC 1973.00 9895.00
Discounts offered by ILC to ALU members 3242.80 6652.20
ALU expenses paid by ILC 455.34 6196.86
Speakers' expenses paid by ALU 652.77 6849.63
Repaid to ALU by ILC 6849.63 0.00
3. Speakers' expenses
The conference paid the travel expenses of invited speakers.
652.77 of this was paid to the speakers on ILC's behalf by the ALU
(this being more convenient for the speakers concerned). Therefore
this 652.77 was added to the sum which ILC owed to ALU (note 2 above).
The remaining 1371.62 was paid directly to speakers by ILC.
4. Sales and freebies
All delegates received a t-shirt, a copy of the 2007 proceedings, a
paper bag to keep them in, and a badge.
Spare proceedings (both 2007 and the 2005 reprint) and t-shirts were
sold at the conference. After the conference, almost all remaining
proceedings and somewhat over half the remaining t-shirts were sold
"at cost price" to LispWorks Limited.
Costs
T-shirts 1587.69
Proceedings 1833.91
Badges 66.36
Paper sacks 78.31
Total costs 3566.27
Sales
At conference 446.59
LispWorks Ltd 689.26
Total sales 1135.85
5. Paypal
In addition to the fees which Paypal charges to receive funds, there
were a few additional very small transactions. Some of these were part
of Paypal's "bank account verification" process, others appeared
randomly from time to time. This heady mixture of little credits and
debits just serves to complicate the accounts; the sum total is 48p
in our favour.
6. Miscellany
Microphone and pre-amp 371.92
Cables etc 30.68
Medals for programming contest 69.32
Photographer 223.24
Car parking 2.50
Total 697.66
7. Administration
Incorporation costs 74.82
Companies House (annual return) 15.00
Internet domain ilc07.org 13.23
Stationery 41.77
Phone 30.00
Postage 27.72
Total 202.54
8. Corporation tax
These accounts cover a period of 474 days. We are required to submit
two tax returns, one for the first year or trading, the other for the
remaining three and a bit months. The rate of Corporation Tax for
small companies went up from 19% to 20% on 2007-04-01.
The two tax returns, 474 days, and tax on the profits are partitioned
thus:
Tax return for Financial CT rate Days Apportioned CT
period to year
2007-03-14 2006/7 19% 365/474 1473.30
2007-03-31 2006/7 19% 18/474 72.66
2007-06-30 2007/8 20% 91/474 386.65
Corporation tax due on profit of 10069.86 is therefore 1932.61
9. Abbreviated balance sheet as of 2007-06-30
Bank balance 10069.86
Other assets 0.00
Accounts receivable 0.00
Total assets 10069.86
Accounts payable 0.00
Other liabilities (Corporation tax) 1932.61
Net assets 8137.25
Financed by: capital 10069.86
Statement which is required to accompany the abbreviated balance
sheet:
These accounts are prepared in accordance with the special
provisions of Part VII of the Companies Act 1985 relating to small
companies.
The director states:
(a) For the year ended 30th June 2007 the company was entitled to
exemption under section 249A(1) of the Companies Act 1985.
(b) Members have not required the company to obtain an audit in
accordance with section 249B(2) of the Companies Act 1985.
(c) The directors acknowledge their responsibility for:
i. ensuring the company keeps accounting records which comply
with section 221; and
ii. preparing accounts which give a true and fair view of the
state of affairs of the company as at the end of the
financial year, and of its profit or loss for the financial
year, in accordance with the requirements of section 226,
and which otherwise comply with the requirements of the
Companies Act relating to accounts, so far as applicable to
the company;
(d) The accounts have been prepared in accordance with the special
provisions in Part VII of the Companies Act 1985 relating to
small companies.
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